Gabelli Funds LLC Increases Holdings in Paysafe Limited (NYSE:PSFE)

Gabelli Funds LLC raised its stake in shares of Paysafe Limited (NYSE:PSFE) by 32.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 152,500 shares of the company’s stock after buying an additional 37,500 shares during the period. Gabelli Funds LLC owned about 0.25% of Paysafe worth $2,408,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of Paysafe by 132.5% during the 4th quarter. SG Americas Securities LLC now owns 23,122 shares of the company’s stock valued at $296,000 after acquiring an additional 13,176 shares during the period. Federated Hermes Inc. grew its position in shares of Paysafe by 2.2% during the 4th quarter. Federated Hermes Inc. now owns 196,795 shares of the company’s stock valued at $2,517,000 after acquiring an additional 4,150 shares during the period. New York State Common Retirement Fund grew its position in shares of Paysafe by 21.4% during the 4th quarter. New York State Common Retirement Fund now owns 17,106 shares of the company’s stock valued at $219,000 after acquiring an additional 3,016 shares during the period. Russell Investments Group Ltd. grew its position in shares of Paysafe by 51.6% during the 4th quarter. Russell Investments Group Ltd. now owns 163,458 shares of the company’s stock valued at $2,091,000 after acquiring an additional 55,650 shares during the period. Finally, SummerHaven Investment Management LLC grew its position in shares of Paysafe by 1.6% during the 4th quarter. SummerHaven Investment Management LLC now owns 63,321 shares of the company’s stock valued at $810,000 after acquiring an additional 971 shares during the period. 54.39% of the stock is currently owned by hedge funds and other institutional investors.

Paysafe Stock Performance

Shares of PSFE traded up $0.68 during midday trading on Friday, hitting $21.67. 251,870 shares of the company traded hands, compared to its average volume of 269,412. The firm has a 50 day moving average of $18.55 and a 200-day moving average of $16.02. Paysafe Limited has a 52 week low of $9.25 and a 52 week high of $21.75. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.80.

Paysafe (NYSE:PSFE) last announced its earnings results on Monday, May 13th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm had revenue of $417.74 million for the quarter, compared to analysts’ expectations of $407.60 million. Paysafe had a negative net margin of 0.82% and a positive return on equity of 15.26%. As a group, sell-side analysts forecast that Paysafe Limited will post 2.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on PSFE shares. Royal Bank of Canada upped their target price on shares of Paysafe from $16.00 to $20.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Bank of America upped their target price on shares of Paysafe from $13.40 to $14.60 and gave the stock an “underperform” rating in a report on Monday, April 15th. Susquehanna upped their target price on shares of Paysafe from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Finally, UBS Group upped their target price on shares of Paysafe from $11.00 to $16.50 and gave the stock a “sell” rating in a report on Wednesday, May 15th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.01.

Paysafe Profile

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.